U.S. President Joe Biden signed the American Rescue Plan Act earlier this month. It is a stimulus bill, which many refer to as the COVID-19 Stimulus Package. It includes a Stimulus Check of $1,400 for people making roughly AU$98,000 or less per year.
Over 127 million individuals have already received their third direct stimulus payment. Two waves of distribution made this happen, which started on March 17.
However, millions of people are still waiting for theirs. Amid the growing anxiety among the public, officials and publications released some details about the status of the third round.
Speaking to WREG, Terry Griffith shared some thoughts about the current status of the third Stimulus Check. He said that the “IRS has a huge task,” adding that while they have already done it in the past, “it is not easy.”
The accountant noted, however, that if people filed their respective 2019 and 2020 tax returns, the checks would certainly arrive. But, if one is “very anxious,” Griffith encouraged reaching to the IRS’ official website.
He explained that the platform has a “portal” where people may check the status of the situation. In the end, though, Griffith claimed that the checks are “likely on its way” to the eligible recipients.
As the questions and curiosity over receiving a third Stimulus Check continue to develop, Forbes recently released a list as to why some people did not receive one since March 17. As explained, there are a few potential reasons behind this.
Primarily, not all people are eligible to receive an Economic Impact Payment. The qualified recipients are single filers who have an annual gross income of AU$98,000 or less and AU$196,000 or less for joint filers.
Another potential reason is some people are getting a paper check instead of a direct deposit. This applies, especially for individuals who do not have a bank account or the IRS does not have any information about the receiver’s bank details.
It is also possible that eligible individuals have not received a third Stimulus Check because a debt collector seized it. Unlike the first two rounds of the stimulus payments, debt collectors can take the third check if the recipient has past-due debts.
Moreover, it is worth noting that the IRS bases the third stimulus payment on the adjusted gross income from 2019 or 2020. Accordingly, if one did not file a tax return, then the IRS may not have “income information to determine [the] eligibility” of receiving a Stimulus Check.
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